Gold

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 This project brings 250 years of expertise in gold to the blockchain to provide a stable entry into the crypto market.
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 <p><img alt="Presented by IPMB" src="https://cdn.thebittimes.com/images/2023/10/25/669795452eb617f3b3c1da6b65048c1f.webp" title="Presented by IPMB"></p>
 <p>As people look for a stable way to enter into the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market, this gold-backed digital ecosystem with a <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> token and NFTs offers a solution.</p>
 <p>Gold, a precious metal known for its scarcity and durability, has been the primary store of value since ancient civilizations. For thousands of years, people prized gold in their trades and investments. Even in the modern world, gold reserves are a major indicator of how strong and reliable a country’s economy is. Despite the gold standard being largely abandoned in 1971, governments and central banks worldwide still hold thousands of tonnes of gold in their reserves as a backup, showing that old habits die hard.</p>
 <p>In the era of cryptocurrency, a digital form of gold has emerged. Blockchain technology has enabled the proving and tracing of digital ownership of any asset transparently, paving the way for gold reserves to be digitized and represented by gold-backed tokens.</p>
 <p>Just like how stablecoins like Tether (USDT) and USD Coin (USDC) are pegged to the U.S. dollar, gold-backed tokens are also pegged to the real-time price of gold. Offering stability for users who want to hedge against both inflation and the volatility of the crypto market, gold-backed crypto tokens also simplify and democratize investments in gold by making it globally accessible.</p>
 <h2 id="gold-industry-enters-the-crypto-market">Gold industry enters the crypto market</h2>
 <p>The potential of gold-backed crypto tokens accelerates traditional gold companies’ jump into Web3. International Precious Metals (IPM), a team of precious metals specialists with over 250 years of combined industry experience, announced that they are bringing their gold expertise to the crypto market with the launch of the gold-backed International Precious Metals Bullion (IPMB) coin and the accompanying Globally exchanged Metal (GeM) nonfungible token (NFT).</p>
 <p>Operating under environmental, social and governance (ESG) compliance, IPM has built a process traceable from the mining of gold to the minting of gold-backed tokens on the blockchain, resulting in a vertically-integrated coin. IPMB represents 1 gram of physical gold. Each IPMB is backed by unallocated investment-grade gold held in listed recognized vaults, including Brinks or Sharps Pixley. IPMB vaulted stocks are audited by Grant Thornton, one of the largest audit, tax and advisory firms.</p>
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 <p>The IPMB utility token allows holders to benefit from the <a rel="noopener noreferrer nofollow" title="stability" href="https://thebittimes.com/tag/stability.html">stability</a> of physical gold without the need to store and secure physical gold bars. IPMB holders have direct access to the underlying <a rel="noopener noreferrer nofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a> with the security of 100% physical gold backing while eliminating the management costs and counterparty risks associated with gold-based traditional finance products. Users can store IPMB tokens on supported <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> wallets, with trading starting on the Changelly <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> exchange on Oct. 27.</p>
 <h2 id="gold-backed-nft">Gold-backed NFT</h2>
 <p>GeM NFT is a key pillar of the IPMB ecosystem that is backed by — and exchangeable into — traceable, sustainably produced pure gold bars. Each GeM token comes in varying sizes, representing different amounts of gold. Users who hold IPMB for a year are qualified for a 12% discount on switching to the GeM NFTs, which can be redeemed for physical gold.</p>
 <p>Highlighting the potential of the IPMB ecosystem as a safe, secure and trusted resource backed by gold, John Vakis, founder and CEO of IPM, said:</p>
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  <p>“We are providing a community-based ecosystem where owners can have liquidity, save and earn on their holdings. The IPMB achieves this with full ESG compliance, product certification and international quality standards.”</p>
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 <p>As the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market looks for <a rel="noopener noreferrer nofollow" title="stability" href="https://thebittimes.com/tag/stability.html">stability</a> to attract more users, gold-backed tokens hold immense potential to onboard users who have concerns about the volatility of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies. With a secure and trusted ecosystem based on gold, IPM aims to utilize blockchain technology to build a bridge between the <a rel="noopener noreferrer nofollow" title="stability" href="https://thebittimes.com/tag/stability.html">stability</a> of traditional gold and the flexibility of digital tokens.</p>
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  Learn more about IPMB
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  <p><span style="font-size: 12px; color: rgb(169, 169, 169);"><span style="font-weight:600">Disclaimer.</span> Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice. </span></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/blockchain-embraces-gold-to-provide-stability-and-growth-for-crypto-assets-tbt67603.html">https://thebittimes.com/blockchain-embraces-gold-to-provide-stability-and-growth-for-crypto-assets-tbt67603.html</a></p>

Blockchain embraces gold to provide stability and growth for crypto assets

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